CARNEY TIMOTHY 4
4 · FARMERS NATIONAL BANC CORP /OH/ · Filed Feb 2, 2022
Insider Transaction Report
Form 4
CARNEY TIMOTHY
SEVP/Chief Banking Officer
Transactions
- Sale
Farmers National Banc Corp. Common Stock
2021-12-10$17.85/sh−2,002$35,736→ 55,656 total(indirect: By 401(k))
Holdings
- 61,560
Farmers National Banc Corp. Common Stock
Footnotes (1)
- [F1]Effective November 1, 2021, the Issuer acquired Cortland Bancorp ("Cortland") by merger (the "Merger"). Following the Merger, the Issuer merged Cortland's 401(k) Plan into the Issuer's 401(k) Plan (the "Plan Merger"). Prior to the Plan Merger, the Cortland 401(k) Plan included a self-directed brokerage account investment option, which is not available under the Issuer's 401(k) Plan. The Cortland 401(k) Plan notified individuals that all investments held in the self-directed brokerage account would be liquidated as part of the Plan Merger. In anticipation of that forced liquidation, the reporting person sold 2,002 shares of the Issuer's common stock that the reporting person had owned under the self-directed brokerage account under the Cortland 401(k) Plan. The price reported reflects the sale price per share of $17.85.